PPI Reclaiming successes and failures

mandy_s_2

AnneWorkman wrote: »

What: Recliming PPI insurance on a personal loan
Who: Egg
Repaid: £2691
Repaid after case awarded by Financial Ombudsman

I complained to Egg early Nov 2008 about the PPI on my personal loan taken out in Oct04 and referred the case to the Financial Ombudsman late Nov 08. After making a few updates to my initial info as requested an Adjudicator decided in my favour in Jul 09. However, Egg did not respond and the case was passed to an Ombudsman. The Ombudsman also decided in my favour though in Aug 09. In Sep09 the decision became binding. I received a cheque from Egg in Oct 09 to close the case.

:j

Thanks for the info! The ombudsman also decided in my favour with egg loan ppi and it became binding on 1st October so waiting for my cheque now

susdolly

Thanks you Martin you are a star!!!!
I eventualy got round to downloading your template letter to reclaim PPI missold on 2 bank loans with barclays bank. One I took out in 2004 and repaid early, the second loan is still current. I took out a loan for £7.500 IN 2007 and thought I had to have PPI . The loan from 2004, 3 weeks after sending letter My bank account was credited by aprox £800. This was I assume PPI on the 2004 loan.
Now the current loan which I still owe £4522.02 on with payments of £177.44 per month over 5 years. They have sent out a new loan agreement for me to sign saying amount of loan £3900 monthly repayments without PPI £140.78 and total charge for credit £323.40 interest 6.265% number of repayments 30 months Total amount repayable £4223.40. I am confused, why do I have to take out another loan which will cost me more money, instead of getting a deduction from loan owed.

di3004

susdolly wrote: »

Thanks you Martin you are a star!!!!
I eventualy got round to downloading your template letter to reclaim PPI missold on 2 bank loans with barclays bank. One I took out in 2004 and repaid early, the second loan is still current. I took out a loan for £7.500 IN 2007 and thought I had to have PPI . The loan from 2004, 3 weeks after sending letter My bank account was credited by aprox £800. This was I assume PPI on the 2004 loan.
Now the current loan which I still owe £4522.02 on with payments of £177.44 per month over 5 years. They have sent out a new loan agreement for me to sign saying amount of loan £3900 monthly repayments without PPI £140.78 and total charge for credit £323.40 interest 6.265% number of repayments 30 months Total amount repayable £4223.40. I am confused, why do I have to take out another loan which will cost me more money, instead of getting a deduction from loan owed.

Hi, and welcome.;)

That is wonderful.
Well done and Congratulations.:beer::T:beer:

finatra26

charliedaydream wrote: »

Hi Finatra

I just spoke to a very friendly chap there, he just said they like to people directly, give a personal touch to their complaint handling. I guess it is quite easy to tell over the phone if someone is genuine or on a blag. I am definitely genuine and think I put my case across successfully. He said they would hope to get back to me within the next 4 weeks with their decision - fingers crossed!

Hi Charlie - I received a reply exactly 2 weeks to the day from speaking to the also very friendly chap there (maybe same guy?) so hopefully you wont have long to wait. It didn't tell me how much buy I didn't mind that as I just wanted to know if I had won. I will find out the amount within 4 weeks (my case is quite complicated though & is for both cc & loan with the cc going back over 20 years ago)

pharmer_2

In January I wrote to the HSBC using the template letters on the website, requesting theu repay the PPI on my loans from them started in 2002, 2005 and 2006. They gave the usual reply eight weeks later stating they would not be willing but suggested I contact the Financial Ombusdsman Service. I wrote to them in April and last week I received a letter stating the HSBC would as a 'gesture of goodwill' refund all premiums paid to date plus interest, to 'ensure this matter has not financially disadvantaged you'.
Today I received confirmation my other safety net bank acount had been credited directly with £4641.90!!!!!
Thanks to everyone who helped me and for the cost of four letters and two phone calls I am now in a much better situation, even though it took the best part of nine months from start to finish.
Can't wait for the bank charge refund situation to be finalised.
Thanks again.

di3004

pharmer wrote: »

In January I wrote to the HSBC using the template letters on the website, requesting theu repay the PPI on my loans from them started in 2002, 2005 and 2006. They gave the usual reply eight weeks later stating they would not be willing but suggested I contact the Financial Ombusdsman Service. I wrote to them in April and last week I received a letter stating the HSBC would as a 'gesture of goodwill' refund all premiums paid to date plus interest, to 'ensure this matter has not financially disadvantaged you'.
Today I received confirmation my other safety net bank acount had been credited directly with £4641.90!!!!!
Thanks to everyone who helped me and for the cost of four letters and two phone calls I am now in a much better situation, even though it took the best part of nine months from start to finish.
Can't wait for the bank charge refund situation to be finalised.
Thanks again.

Brilliant, Congratulations and well done.
:beer::T:beer:

slaterio

Hi

I complained to Egg about 18 months ago and involved the FSA in the process. Egg provided the FSA with the supposed transcript of my application online- way back in 2003. On this it indicated that I had ticked the yes I want PPI (I do not remember doing this) but also that I had requested a credit limit of £2000. My query is that at no point in the application did I make a request for that credit limit, so could this yes tick have been added by someone??? Anyone else had this problem?

di3004

slaterio wrote: »

Hi

I complained to Egg about 18 months ago and involved the FSA in the process. Egg provided the FSA with the supposed transcript of my application online- way back in 2003. On this it indicated that I had ticked the yes I want PPI (I do not remember doing this) but also that I had requested a credit limit of £2000. My query is that at no point in the application did I make a request for that credit limit, so could this yes tick have been added by someone??? Anyone else had this problem?

Hi there

Its a possibility that this was manually ticked/automatically crossed or ticked by the bank, so do not let them stop you.

We all receive these standard responses, you have your reasons, stick to them and keep at them is best.;)

shrimpy_80

Hi everyone, just wanted to report success with HSBC.Complained about my loan in February as I was sold PPI when I was in fact employed on a seasonal contract so would not have been covered by it. HSBC rejected my first 2 letters, sending me a DNR which showed that their staff member had assessed my needs and recommended the policy as I didn't have any other unemployment cover in place. I actually felt that this strengthened my case as it shows the PPI had been recommended as unemployment cover when it actually didn't cover me for unemployment. They offered to restructure my loan minus the PPI if I went into branch, when I went in they said that the 'new' loan would be charged at a higher rate of interest, meaning my 'new' repayments would actually be about 10p a month MORE than they were with PPI.

Went to the Ombudsman around July, and about a month ago received a letter saying that although HSBC rejected my claim of mis-selling, they were willing to refund me as a 'goodwill gesture' Today the full amount I paid so far has been refunded to my account, they have restructured my loan minus PPI over the same term and at the same rate of interest.

Although I feel they wasted my time and dragged the case out unnecessarily, in the end it was resolved more quickly than expected.

If you know you are in the right, stick with your complaint, it will be worth it in the end.

Thanks to everyone on this thread, did a lot of lurking when I first put my claim in and without the information I gained here I would not have had this success so a massive thankyou:T

di3004

shrimpy_80 wrote: »

Hi everyone, just wanted to report success with HSBC.Complained about my loan in February as I was sold PPI when I was in fact employed on a seasonal contract so would not have been covered by it. HSBC rejected my first 2 letters, sending me a DNR which showed that their staff member had assessed my needs and recommended the policy as I didn't have any other unemployment cover in place. I actually felt that this strengthened my case as it shows the PPI had been recommended as unemployment cover when it actually didn't cover me for unemployment. They offered to restructure my loan minus the PPI if I went into branch, when I went in they said that the 'new' loan would be charged at a higher rate of interest, meaning my 'new' repayments would actually be about 10p a month MORE than they were with PPI.

Went to the Ombudsman around July, and about a month ago received a letter saying that although HSBC rejected my claim of mis-selling, they were willing to refund me as a 'goodwill gesture' Today the full amount I paid so far has been refunded to my account, they have restructured my loan minus PPI over the same term and at the same rate of interest.

Although I feel they wasted my time and dragged the case out unnecessarily, in the end it was resolved more quickly than expected.

If you know you are in the right, stick with your complaint, it will be worth it in the end.

Thanks to everyone on this thread, did a lot of lurking when I first put my claim in and without the information I gained here I would not have had this success so a massive thankyou:T

Brilliant, well done to you hunni and Congratulations.
:beer::T:beer: